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10 things about the new revenue standard: Round 3

Scott Taub | July 12, 2016

It’s been just over two years since the Financial Accounting Standards Board issued its new standard on revenue recognition. Shortly thereafter, I wrote a column providing 10 quick thoughts on the new standard. After a year of working with the new standard, I provided 10 more thoughts. It’s time, then, for one more round on Topic 606, building on what I’ve learned in the past year consulting with clients on applying the new guidance, participating in discussions of the FASB/IASB Joint Transition Resource Group for Revenue Recognition, and writing a book on the topic.

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